(October 15, 2008)--Government data released Wednesday show retail sales fell off a cliff in September, plunging by the largest amount in three years.
Worried consumers shunned the malls and auto showrooms in the midst of the country's financial meltdown.
The Commerce Department reported retail sales dropped 1.2 percent last month, nearly double the 0.7 percent drop that was expected.
The surprise showing significantly increased the risks of a recession.
Consumer spending is two-thirds of total economic activity.
A 3.8 percent drop in auto sales led the weakness.
Sales dropped below 1 million units as consumers struggled to find financing.
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